60 Minutes Highlights Administration’s Failure to Create Green Jobs

January 6, 2014

 

Former DOE Official Admits Job Creation Didn’t Matter

Following the Energy and Commerce Committee’s investigation into the Department of Energy’s stimulus programs and the lack of jobs that resulted, CBS News’ 60 Minutes last night highlighted the tens of billions of taxpayer dollars that have been wasted on failed green energy technologies. According to the report, “The federal government has allocated a total of $150 billion to Cleantech – through loans, grants and tax breaks with little to show for it.” Despite the administration’s promise that these ventures would create jobs, companies failed and the jobs were never delivered. Steven Koonin, a former scientist at DOE’s loan department, admitted during an interview that he never believed the stimulus loans were going to create jobs, stating, “I didn't think it mattered as a job creation.” The bankruptcies of Solydra, Abound Energy, Beacon Power, and Fisker provide a highlight reel of the Obama administration’s failed cleantech record. 60 Minutes also points out that several of the failed cleantech companies backed by taxpayer dollars ended up in the hands of Chinese investors. “American taxpayers have spent billions on cleantech,” said Lesley Stahl. “Have we gotten our money's worth?” The House Energy and Commerce Committee’s investigation has revealed the answer is a clear no.  

“This report underscores the massive failure of the administration’s green energy programs. The Obama administration spent billions of taxpayer dollars propping up its green energy agenda under the guise of job creation, but instead of jobs, this investment has yielded failed companies. And rather than stimulate U.S. jobs, DOE’s loan guarantee program has proven to be a more successful stimulus for Chinese investors,” said Energy and Commerce Committee Vice Chairman Marsha Blackburn (R-TN).

1/6/2014

The Cleantech Crash